10 stories mentioning OLNUpdated 31d ago
Every FINWIRES story that references OLN, newest first.
Olin (OLN) shares were down 5.8% in Tuesday afternoon trading after BofA Securities downgraded the stock to underperform from buy and lowered the price target to $21 from $32.Trading volume stood at about 2 million shares, compared with a daily average of nearly 2.6 million.Price: $19.62, Change: $-1.20, Percent Change: -5.76%
(Updates with price target details, analyst averages.)Olin (OLN) has an average rating of hold and mean price target of $28.29, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)
(Updates with market moves at the end of the day.)The Dow Jones Industrial Average hit a fresh record high on Tuesday despite a sell-off in the technology sector, as the Federal Reserve kicked off its two-day monetary policy meeting.The Dow rose 0.6% to 51,999.7, notching a new closing high for a second straight day. The Nasdaq Composite fell 1.2% to 26,376.3, while the S&P 500 shed 0.6% to 7,511.4, the first decline in the past four sessions.Among sectors, financials paced the gainers, while tech saw the biggest drop.Among tech majors, Nvidia (NVDA) shares fell 2.4%, the biggest drop on the Dow, followed by Salesforce (CRM) and Microsoft (MSFT), respectively. On the S&P 500, Intel (INTC) was among the worst performers, down 8.5%.Markets widely expect the Fed to leave its benchmark lending rate unchanged Wednesday, which would mark the central bank's fourth straight pause, according to the CME FedWatch tool. The meeting is Kevin Warsh's first as Fed chair, who assumed the role last month, replacing Jerome Powell."The (Federal Open Market Committee) is expected to remove the lingering easing bias from the statement, signaling instead an equal probability of the next policy move being a rate cut or a rate hike," Stifel said in a note.The Fed is also scheduled to publish its latest Summary of Economic Projections, or SEP, document Wednesday. Stifel projects the Fed's "dot plot" to show most officials' expectations for a "stagnant" monetary policy for the rest of the year amid concerns over inflation.West Texas Intermediate crude oil was down 4.8% at $76.89 a barrel in Tuesday late-afternoon trade, while Brent dropped 4.2% to $79.66.The US and Iran recently agreed to end their war and reopen the Strait of Hormuz, which is the world's most important chokepoint for crude flows. The two sides are scheduled to sign their peace deal in Switzerland Friday, which would kick off another round of negotiations on Tehran's nuclear program as Iran seeks sanctions relief.Analysts have flagged the possibility of implementation risks and potential disagreements.Iran is demanding Israel withdraw from Lebanon, CNN reported."The path ahead is complex: watch for implementation disagreements, Gulf states' security demands, and Iran's continued leverage over the Strait of Hormuz," Deutsche Bank said in a note.US Treasury yields were lower, with the 10-year rate down 4.6 basis points at 4.44% and the two-year yield falling 2.3 basis points to 4.06%.In economic news, US housing starts plummeted to the lowest level since 2020 in May amid a steep drop in multi-family projects, government data showed."There is little indication that US home building will break to the upside anytime soon, given high mortgage rates, previous overbuilding in the South, elevated new home inventories relative to sales, and the current depressed level of builder activity in the (National Association of Home Builders) survey," BMO Capital Markets said in a note.In company news, Space Exploration Technologies (SPCX) agreed to acquire Anysphere, which operates artificial intelligence coding agent Cursor, in a deal worth about $60 billion, just days after the Elon Musk-led rocket and satellite company went public. SpaceX shares rose 4.8%, rising for the third straight day following its Friday debut.Olin (OLN) and Huntsman (HUN) agreed to merge in an all-stock deal to create a larger North American chemicals company with more than $12 billion in annual revenue. Huntsman shares slid 17%, while Olin fell 5.9%.Gold was last seen up 0.1% at $4,355.10 per troy ounce, while silver was little changed at $70.16 per ounce.
Sanuwave Health's (SNWV) Q2 revenue is expected to be in the range of $8.5 million to $9.5 million, below the guidance the company provided in its Q1 earnings call on May 13, according to a statement Tuesday.Shares sank 42% amid a surge in intraday trading volume to over 779,000 from a daily average of about 91,000.TD Cowen downgraded Domo's (DOMO) shares to hold from buy while adjusting its price target to $3.25 from $6.This comes as Domo reported a narrower fiscal Q1 non-GAAP loss late Monday amid a year-over-year decline in revenue. Sales were also slightly shy of market expectations.Shares plummeted 39% as intraday trading volume climbed to more than 12.4 million, versus a daily average of about 1.14 million.Olin (OLN) and Huntsman (HUN) on Tuesday said they agreed to merge in an all-stock deal to create a larger North American chemicals company with more than $12 billion in annual revenue.Shares of Huntsman dropped 16%, with intraday trading volume rising to more than 19.3 million from the stock's daily average of about 5.21 million.Price: $8.47, Change: $-6.20, Percent Change: -42.26%
(Updates with latest market prices and developments.)US benchmark equity indexes were mixed intraday as the Federal Reserve's two-day monetary policy meeting got underway.The Nasdaq Composite was down 0.6% at 26,518.3 after midday Tuesday, while the S&P 500 fell 0.3% to 7,531.1. The Dow Jones Industrial Average rose 0.9% to 52,101. Most sectors were in the green, led by financials, while technology saw the biggest drop.Salesforce (CRM) shares were down 2.2%, the biggest drop on the Dow, followed by fellow tech majors Microsoft (MSFT) and Nvidia (NVDA), respectively. On the S&P 500, Intel (INTC) was among the worst performers, down 5.6%.Markets widely expect the Fed to leave its benchmark lending rate unchanged Wednesday, which would mark the central bank's fourth straight pause, according to the CME FedWatch tool. The meeting is Kevin Warsh's first as Fed chair, who assumed the role last month, replacing Jerome Powell."The (Federal Open Market Committee) is expected to remove the lingering easing bias from the statement, signaling instead an equal probability of the next policy move being a rate cut or a rate hike," Stifel said in a note. "There will also be an updated SEP, or Summary of Economic Projections, released with policymakers likely increasing both their expectations for inflation amid rising energy prices, as well as growth, reflecting a pickup in productivity amid a rapid and ongoing adoption of (artificial intelligence)."West Texas Intermediate crude oil was down 6.4% at $75.62 a barrel intraday, while Brent dropped 5.4% to $78.69.The US and Iran recently agreed to end their war and reopen the Strait of Hormuz, which is the world's most important chokepoint for crude flows. The two sides are scheduled to sign their peace deal in Switzerland Friday, which would kick off another round of negotiations on Tehran's nuclear program as Iran seeks sanctions relief.US President Donald Trump vowed to publicly release the text of the agreement "in a couple of days," CNN reported Tuesday.Analysts have flagged the possibility of implementation risks and potential disagreements."The path ahead is complex: watch for implementation disagreements, Gulf states' security demands, and Iran's continued leverage over the Strait of Hormuz," Deutsche Bank said in a note.US Treasury yields were lower intraday, with the 10-year rate down 4.9 basis points at 4.43% and the two-year yield falling 3.2 basis points to 4.05%.In economic news, US housing starts plummeted to the lowest level since 2020 in May amid a steep drop in multi-family projects, government data showed."There is little indication that US home building will break to the upside anytime soon, given high mortgage rates, previous overbuilding in the South, elevated new home inventories relative to sales, and the current depressed level of builder activity in the (National Association of Home Builders) survey," BMO Capital Markets said in a note.In company news, Space Exploration Technologies (SPCX) agreed to acquire Anysphere, which operates artificial intelligence coding agent Cursor, in a deal worth about $60 billion, just days after the Elon Musk-led rocket and satellite company went public. SpaceX shares were up 11% intraday.Olin (OLN) and Huntsman (HUN) agreed to merge in an all-stock deal to create a larger North American chemicals company with more than $12 billion in annual revenue. Huntsman shares were down 17% intraday, while Olin fell 7.1%.La-Z-Boy (LZB) is scheduled to report its latest quarterly financial results after the closing bell Tuesday, along with others.Gold was little changed at $4,351.20 per troy ounce, while silver edged down 0.4% to $69.90 per ounce.
Olin (OLN) and Huntsman (HUN) on Tuesday said they agreed to merge in an all-stock deal to create a larger North American chemicals company with more than $12 billion in annual revenue.Under the terms of the agreement, diversified chemical products maker Huntsman's shareholders will receive 0.5476 Olin shares for each share they own, the companies said in a joint statement.The transaction is expected to close in the first half of 2027, subject to regulatory and shareholder approvals. Upon completion, the combined company will be renamed OlinHuntsman. Olin shareholders are expected to own about 54.5% of the combined company, while Huntsman shareholders will own the remaining 45.5%.The combined company would have generated about $12.5 billion in 2025 revenue, the statement said. It is expected to serve a range of end markets including automotive, construction, infrastructure and industrial applications. OlinHuntsman will benefit from a lower cost position and a greater ability to convert its electrochemical unit production into downstream materials, creating new growth opportunities, according to the statement.The deal will also combine Olin's manufacturing and feedstock capabilities with Huntsman's downstream products and formulation expertise, while Olin's Winchester ammunition business will continue operating within the company."This combination provides a compelling opportunity for Olin and Huntsman to create a more resilient and value-focused chemicals company anchored in North America," Olin chief executive Ken Lane said.Olin and Huntsman expect the merger to generate more than $400 million in synergies and integration benefits.Upon closing of the transaction, Lane will lead the combined company, while Huntsman CEO Peter Huntsman will serve as non-executive chairman of the board. OlinHuntsman will be headquartered in Texas.Earlier this month, Huntsman said it sold its Italy-based automotive aftermarket components business Gomet to Trelleborg Group for about $50 million.
US equity markets were tracking in the green before the open Tuesday as traders await the Federal Reserve's latest decision on interest rates and keep an eye out for more details on the peace deal between the US and Iran.The S&P 500 was slightly in the green, the Dow Jones Industrial Average edged up 0.1% and the Nasdaq added 0.2% in premarket activity. The S&P 500 and the Nasdaq finished Monday trading up for a third consecutive session, while the Dow notched a new all-time high.US markets will be closed on Friday for the Juneteenth National Independence Day holiday.The Fed's monetary policy committee is set to kick off its meeting on interest rates today, with a decision due tomorrow. Markets widely expect the central bank to keep its benchmark lending rate unchanged for a fourth consecutive meeting, according to the CME FedWatch tool."We expect the Warsh Fed to move slowly on interest rates, especially with expectations for an end to the war," D.A. Davidson said. "The Fed, however, could remove its easing bias (a view that rates will be lower over the medium term)."The Fed's so-called "dot plot" may signal no interest rate cuts until 2028, UBS Securities said Monday. The brokerage flagged the possibility of a tighter monetary policy amid the energy price shock stemming from the Middle East conflict.Treasury yields were down in premarket action, with the two-year rate retreating 1.2 basis points to 4.05%, while the 10-year rate was off 2.4 basis points to 4.45%.While markets remain optimistic following the US-Iran deal announcement, ship owners, traders and oil-producing nations are seeking more clarity on the terms of the agreement to end the war and reopen the Strait of Hormuz, Bloomberg News reported. Executives and officials said they need more details on the deal before resuming oil shipments through the key waterway, the report added."Flows through the Strait will take time to normalize even if the (memorandum of understanding) holds," Rystad Energy said in a note emailed toon Tuesday. "We are not going back to a pre-crisis oil market, but instead we are entering a more uncertain, more volatile one."West Texas Intermediate crude oil fell 2.5% to $78.73 a barrel before the open, while Brent slipped 2.4% to $81.18.The US and Iran are scheduled to sign their peace deal in Switzerland on Friday.Tuesday's economic calendar also has the housing starts and permits report for May at 8:30 am ET, along with the import and export prices data for the same month.SpaceX (SPCX) shares jumped 10% pre-bell after closing the previous trading session up 20%. Huntsman (HUN) fell 9.4% as it agreed to an all-stock merger of equals with Olin (OLN).John Wiley & Sons (WLY) reports its latest financial results before the bell, while La-Z-Boy (LZB) posts earnings after the markets close.Gold nudged 0.4% higher to $4,367 per troy ounce, while bitcoin slipped less than 0.1% to $66,586.
CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We maintain our Hold rating (3-STARS) and increase our target price to $32. This is derived using an EV/EBITDA multiple of 7.5x and our 2027 EBITDA estimate of $872 million. Olin reported a net loss of ($83.0M), or ($0.73) per share, in Q1 2026 as the Chlor Alkali Products and Vinyls segment swung to a loss on lower pricing, reduced volumes following the Blue Water Alliance exit, and $36.1M in legacy litigation charges. The company delivered sequential adjusted EBITDA improvement from Q4 2025, supported by its Beyond250 cost reduction program. Epoxy returned to profitability with growth in European operations, while Winchester revenue increased 21% on higher military sales, although margins compressed from commodity cost inflation. Management guided Q2 2026 adjusted EBITDA to $160M-$200M, reflecting expected seasonal demand improvement and pricing gains across Chemicals businesses along with continued Winchester demand momentum. We cut our 2026 EPS estimate by $0.62 to $-0.43 and keep 2027's as $1.25.
CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:Olin reported a net loss of $83.0M, or -$0.73 per share vs. net income of $1.4M, or $0.01 per share, in Q1 2025, with sales declining 3.7% to $1,583.0M and adjusted EBITDA falling to $86.2M from $185.6M. The Chlor Alkali segment posted a $44.5M loss vs. $78.3M earnings due to lower pricing/volumes and higher costs, while Winchester sales rose 21.3% to $470.5M, though segment earnings declined. We believe the company is navigating challenging market conditions through its Beyond250 cost reduction program and sequential EBITDA improvement from Q4 2025. Management provided Q2 2026 adjusted EBITDA guidance of $160M-$200M, reflecting expected sequential improvement from seasonally higher demand and pricing gains. We expect the Iran conflict to benefit North American operations through supply disruptions, while net debt/EBITDA increased to 5.1x from 3.5x, though the company maintained $1.3B liquidity and declared its 398th consecutive quarterly dividend of $0.20 per share.
